Under Armour SWOT Analysis – SWOT Analysis of Under Armour: Under Armour is an American company that produces shoes, sports, and casual clothes. The headquarters for the global business is in Baltimore, Maryland. The stores are situated in major cities across the world, such as Austin, Hong Kong, London, Mexico City, Munich, New York City, and more.
Its brand was born out of the concept of altering how people perceive and experience the effectiveness of the game of apparel. The brand is now able to market its products via its Amazon Brand Store, which offers more than 330 different styles of apparel and footwear for running and training categories.
Under Armour fun facts: Under Armour’s first product placement in a film was a jockstrap, and it was seen in the 1999 movie “Any Given Sunday.”
About Under Armour – SWOT analysis of Under Armour
Company: Under Armour, Inc.
CEO: Patrik Frisk
Founder: Kevin Plank
Year founded: 25 September 1996, Washington, D.C., United States
Headquarters: Baltimore, Maryland, United States
Annual Revenue: USD5.27 Billion
Profit | Net income: USD360 million
Number of employees: 16,600
Products & Services: Branded performance apparel | Footwear | Accessories for all age groups, and for men, women, and children | Athletic shoes | T-shirts, Jackets, Hoodies, Pants, Leggings, Shorts, Athletic bras | Athletic bags | Face masks | Accessories such as bags, gloves, caps and protective gear
Under Armour Competitors
Competitors: VF Corporation | Nike | Adidas | Reebok | PUMA | Delta Apparel | New Balance | ASICS | FILA | Converse | Crocs
SWOT analysis of Under Armour – Under Armour SWOT analysis
SWOT Analysis Of Under Armour is brand-based. SWOT Analysis of Under Armour evaluates the brand’s strengths, weaknesses, opportunities, and threats. Advantages and disadvantages can be attributed to internal factors while opportunities and threats can be attributed to external factors. We will be discussing Under Armour’s SWOT Analysis. Below is the detailed SWOT Analysis of Under Armour.
Let’s talk about Under Armour’s SWOT assessment.
Strengths of Under Armour – Under Armour SWOT analysis
The focus is on the future of innovation
The company is trying to keep ahead of the market by reducing its reliance on elastane. Elastane provides stretch, but it retains moisture, which can lead to problems with odor; demands more strength due to the increase in dry time; wears faster, and makes a lot of fabrics impossible to reuse.
The latest techniques for thread texturing and polymer characteristics eliminated the requirement for elastane. its products are of more durable quality, last longer, and be recycled completely. This is a game-changer and is a major change for the entire athletic clothing business.
Concentrate on the involvement of the community
Under Armour has a sturdy community involvement, with programs such as UA Give Back with unique branches such as UA Power in Pink, UA Freedom, and UA Win Global.
It is also active in the annual ” International Day of the Girl” and Under Armour played an important part in the occasion that promoted women’s participation in sports. Initiatives like this have helped to improve the image of the brand.
Music is a vital component of training. Every step of an exercise or set of squats is fueled by music. Under Armour along with JBL have teamed up to develop the UA(r) Sport Wireless headphone product line featuring two new options, UA(r) Sport Wireless React and UA(r) Sport Wireless Pivot designed by JBL.
The bottom line is that both improvements in headphone design were created simultaneously using reviews from athletes and consumer insight.
Concentrate on kids’ clothing
The company has managed to develop a line designed for athletes in the early years and has been able to work on the clothing to improve their performance. They’ve designed jackets that keep children warm in any setting.
The underwear collection includes features such as multi-function pockets and stretchy stretches for mobility. Important features are UA Coldgear, UA Storm, and more that let sleeves grow so that they last for longer than one time. The collection for kids is huge.
Weaknesses of Under Armour – SWOT Analysis Of Under Armour
Only a limited availability in India
As Nike, as well as Adidas, look for stability within their international and domestic business, Under Armour, has focused on its North American commercial enterprise to attempt to gain a substantial part of the market.
Strategies for emerging economies, the company began its journey in India by launching its own brand in Amazon Fashion in advance this year. Similar to China the market for sportswear is hugely growing market in India.
The absence of physical stores isn’t creating a strong brand image making people unaware of the brand.
Adidas has proven that its strength is solid and has put increasing pressure on the sports field, and is stealing market share from Under Armour and Nike. Adidas raised its 2017 forecast in August and reported that sales rose 26 percent across North America in its remaining economic region.
Under Armour has weaknesses, but they persist in their own U.S., where competitors Nike, as well as Adidas, have taken market share.
ID lost Identity
Some business experts believe Under Armour has lost its distinctiveness in the industry. It has been involved in movements that include collaboration in a collaboration with A$AP Rocky however, the customers generally consider the brand is a functional, performance brand that is well-known for its compression t-shirts
Opportunities of Under Armour – Under Armour SWOT analysis
Under Armour has set up machines that allow athletes to have the body scan they need to find the ideal fit and measurement. This lets athletes not be assessed as often however it also provides them feedback on how their body shapes change according to the season.
Once all-athlete specifications are available and they can make custom-made shoes based on the competitive sport and cut down on waste from clothes that don’t fit and are thrown away. Offering something different to athletes will increase their loyalty to the business.
The brand is the most successful in sales in the Asia-Pacific region, where sales increased by 35 percent. Furthermore, global markets are ripe in the future for Under Armour.
In the second half of 2017 Under Armour’s global revenue grew by 57% over the prior year’s level, however, it was only 22% of the company’s general sales. Investors are confident in the fact that Under Armour still has plenty of room to expand beyond the US.
Threats of Under Armour – SWOT analysis of Under Armour
Dilution of identity
One disadvantage that comes with Under Armour promoting a huge range of merchandise is that its reputation may be diminished. In fact, apparel that is designed for performance is the basis of the brand, but nowadays Under Armour isn’t always just about ColdGear fabric and HeatGear T-shirts.
It is also possible to lose the Under Armour emblem additionally includes fashionable sports bras, wireless headphones socks, backpacks, and duffle bags. And even as all of these merchandise increase Under Armour’s ability to generate revenue, through the years they may lessen the employer’s overall performance-orientated image and competitive advantage.
Changing consumer needs
People have worn Under Armour merchandise both at the gym as well as for fashion However, the changing trends in fashion have affected the brand’s main goal. Under Armour has also developed products for various sports that aren’t its main focus, which includes tennis, fishing, and other door equipment.
It is crucial to more aware of the needs of consumers, determine their specific target market and develop products that meet their needs.
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Overview Template of Under Armour SWOT analysis
Under Armour, SWOT analysis shows a promising future for the brand. All it requires is some necessary restructuring by cutting expenditures. The company has made enough investments thanks to media coverage and publicity.
Its already booming revenue and expansive growth make it an ideal candidate for investments. Moreover, the brand is already recognized worldwide. Under Armour has a strong foothold in the American markets, all it needs to do is to capture the international markets.
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